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New York City - Brutal Selloff on Wall Street |
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Published on:
Sep 04, 2008 at 04:12 PM
News Source: CNNfn
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New York City - Stocks plummeted on Thursday afternoon, with the Dow clsoing down nearly 350 points as mixed retail sales, lower oil prices and dour labor market readings amplified worries about a global economic slowdown.
The concerns overshadowed a better-than-expected sales report from Wal-Mart Stores and surprisingly strong readings on productivity and the services sector.
The Dow Jones industrial average lost 344 points to close at 11,188 points
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